By Reuters Staff
1 Min Read
FILE PHOTO: A technical employee works at the production line for the electric Volkswagen model ID. 4, in Zwickau, Germany, September 18, 2020. REUTERS/Matthias Rietschel
FRANKFURT (Reuters) - Volkswagen overtook software maker SAP on Wednesday as the most valuable company in Germany’s blue-chip DAX index, as investors warm to the carmaker’s plans to take on Tesla.
Volkswagen shares rose as much as 12%, giving the company a market valuation of more than 136 billion euros ($162 billion), compared with SAP’s 127 billion.
Volkswagen shares have gained 47% year-to-date, supported by a raft of announcements on its electric vehicle expansion strategy, which culminated in a “Power Day” this week including plans to build six gigafactories in Europe by 2030.
Volkswagen overtakes SAP to become Germany s most valuable blue-chip
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Adidas sees strong interest for sale of Reebok
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(Adds Siemens Healthineers comment, Commission declines comment, fourth source)
BRUSSELS/MUNICH, Feb 15 (Reuters) - German health group Siemens Healthineers is set to win EU antitrust approval for its $16.4-billion purchase of U.S. peer Varian Medical Systems Inc in a deal that will make it a world leader in cancer care therapy, four people familiar with the matter said.
Siemens Healthineers, spun off and floated in 2018 by Siemens, announced the acquisition in August last year. Varian is the leader in radiation therapy with a market share of more than 50%.
Siemens Healthineers last month offered concessions to address competition concerns about interoperability, the sources said. Such a measure enables computer systems and software to work with each other.